Global Compostable Plastic Market 2024-2028
The compostable plastic market is forecasted to grow by USD 2885.5 mn during 2023-2028, accelerating at a CAGR of 19.16% during the forecast period. The report on the compostable plastic market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing use of compostable packaging, environmental hazards associated with traditional plastics increasing demand for compostable plastics, and increasing awareness on environmental concerns regarding plastic usage.
Technavio's compostable plastic market is segmented as below:
ByEnd-user
- Packaging
- Consumer goods
- Textiles
- Agriculture
- Others
ByProduct
- Compostable bag
- Compostable cutlery
- Compostable gloves
- Compostable straw
- Others
ByGeography
- Europe
- North America
- APAC
- South America
- Middle East and Africa
This study identifies the growing government initiatives encouraging replacement of conventional plastics with compostable plastics as one of the prime reasons driving the compostable plastic market growth during the next few years. Also, growing number of investments, collaborations, and agreements among vendors and consumption of compostable plastics in novel applications will lead to sizable demand in the market.
The report on the compostable plastic market covers the following areas:
- Compostable plastic market sizing
- Compostable plastic market forecast
- Compostable plastic market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading compostable plastic market vendors that include BASF SE, BEWI ASA, Biome Technologies plc, BioTec Bags India Pvt. Ltd., BOSK Bioproducts, Cargill Inc., Danimer Scientific Inc., Eastman Chemical Co., Fkur Kunststoff GmbH, Futerro SA, Green Dot Bioplastics Inc., Kaneka Corp., KURARAY Co. Ltd., Mitsubishi Chemical Corp., Neste Corp., Northern Technologies International Corp., Novamont S.p.A., SK Chemicals Co. Ltd., Toray Industries Inc., TotalEnergies SE, and Trinseo PLC. Also, the compostable plastic market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.